A Bubble is when there is so much inventory available that No One, No Body, Any one - any longer wants to buy anything and the remaining inventory then needs to slash pricing to sell.

I am not in other cities I am in Toronto. Is a 300K unit affordable for a single person in DT Toronto? UMM Yes. yeah at $1300 pm purchase vs the rental of $1500. If there were so many for sale..... Then the owner's would rent them. If there were so many available..... then the rental price would decrease to meet the available rental pool.

To the [individual] who wrote there are 17,000 units are pending closing in 2010. (Possibly I am not aware how this number was sourced). Yeah! All with 20 % prepaid down payments, All Purchased in 2007, 2008 pricing, with committed financing and people living in them. (either as a rental or as end users) Occupancy dates are 4 - 6 months prior to the Registration of a Condominium Corporation (building).

In 2008 the Toronto Real Estate Board reported 94,000 sales for the entire year. Given that the condo market is almost 40% of all units sold under the $500 K mark, 17,000 units in a given year is not an impossible number to justify in a city (GTA) of almost 4.5 Million people.

The economy and real estate held their collective breath for a potential correction Nov '08 to March '09 and we decided, that we as Canadians, are ok.

People who make blanket statements like this have a woeful misconception of the buying a condo unit process from a builder. Cranes on Site mean the buildings are SOLD. Permit costs have been paid based on the total number of units proposed and Lot Levies committed and assessed.

There is currently an inventory shortage and there are people lined up coming to large urban centers in Canada. Why? Employment. We have continued immigration for jobs and education. We need more immigration in Canada. Canada's banking system was lauded as a sample for the world at the G7 summit. Single women are now a market force buying on their own. Canada is a safe haven for investment dollars. Pick one you like.

David, I know your frustration when someone comes up with these things. I have some of the same kind of misinformation in Naples. While there are certain new areas that have short sales and foreclosures....the quality areas in Naples are doing very well. Very well. It is a great time to buy in Southwest Florida This week I have three Canadians coming to Naples to buy. All from the Toronto area. They are very upbeat about our area. Hope you have a great 2010. :-)